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ED Corporate Mortgage

     ED CORPORATE MORTGAGE (Product Contact- Solomon 08035968579)

Physical structures in ECWA entities are hardly replaced while some are seldom renovated thereby raising safety concerns and poor perception for ECWA. Some landed properties remain largely underdeveloped after many years of acquisition. Furthermore, strategic urban church planting is suffering because of the huge cost involved. ED Corporate Mortgage was developed to address the funding gap in property acquisition and maintenance among ECWA entities. 

Click to download ED Corporate Mortgage Form

Features

  • Minimum annual target savings of 5% of the total value of land and buildings held by each ECWA entity, spread monthly for ease of remittance.
  • Initial savings period of 60 consecutive months (5years) to access a mortgage.
  • Loans are collateralized by Mortgage Savings Account (MSA).

Benefits

  • Interest accrues on monthly savings.
  • 5 to 10 years’ mortgage at 1% per month.
  • Pledged credit is 200% of MSA balance.
  • Ease of property acquisition and maintenance.
  • Ease of strategic urban Church planting and rapid spread of the gospel.
  • Enhanced corporate image for ECWA.

Monthly savings should be sent to:

ECWA Development Finance Scheme Ltd, First Bank A/C No. 2032998469.

Each DCC, LCC, LC, Department, Company, Institution, Unit, etc shall fill ED Corporate Mortgage account opening form and submit it to EDFSL Corporate Office to obtain a unique MSA number.